Why I am boycotting new issues from the Mint.

Was 20k ounces for that price hard to understand?

 

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I’ll bite . I ended up having computer rage over there website but I ended up with a cc and 4 o privy. The strange thing is I put one of each in my cart and everytime the site crashed it added a o . I got two out but was fearing I could not finalize the purchase so took the 5 total . I figured I’ll make some on the extra o and give two to my kids. I plan on trying for the others but if I don’t maybe I’ll be able to trade for one

 

No. But is a sweetheart distribution deal at a 400% markup hard to understand when your tax dollars pay for keeping the production cost low for the sweetheart?

 

Your tax dollars do basically nothing for the mint and if you want to talk about that they should actually eliminate all collectors with the higher cost basis to improve profits for everyone else paying tax dollars.

Are collectors the only tax payers? Unpopular opinion but that’s just an argument against it

 

The mint, the mint … I love the mint. I have a use for it, but only one. See the pic.

Cal

 

I'll take one sir.

 

You can have mine.

 

The Mint should not be in the business of supplying trinkets to thieves. Just eliminate the whole thing. Find yourself a Private Mint and do the dirty deed yourself.

 

Can you provide an example of the United States mint providing “trinkets to thieves”?

 

The mint is now producing coins that they are making a profit on. They advised us of this last October when they raised prices on certain issues. Before everybody was complaining that the mint mass produced so many coins, that there was no secondary market for what they bought. Now people are complaining that the US Mint does not make enough coins so everybody can get one. No matter what they do, people will always complain. Damned if they do, damned if they don’t.

 

If sanity ever returns, the market will shrivel up and die for recently produced Mint Products. The only good thing about them is it keeps the foolish with more dollars than sense away from what I collect.

How's that "Investment" in Beany Babies working for you?

 

I don't see that people complaining about the mint not making enough coins. They are complaining about the distribution process that makes it impossible for the typical collector to secure pieces.

 

And I'm complaining that a Favored Nations distribution process is corrupt at it's core.

Oh! And about the Mint making a profit. It's an old accounting trick that only includes variable production costs and not the fixed costs. That "profit" never reaches the bottom line. At least not the Mint's bottom line. An easy argument to make is that it DOES reach the bottom line of the Favored Nations.

 

Quite a few of them are worth five figures and its actually a rather hot market overall so considering their issue price it would have worked out quite well

 

I saw a recent sale of a 2021 Morgan on USAcoinbook. This was for a prerelease with a sale price of $285.

 

And how many of those lottery tickets never worked out?

 

I have seen a dozen collector friends flipping these in Facebook coin groups. Some even write in the title, “I bought 10... I know, but don’t hate.”
This is just conjecture, but to me the issue here is that coins are primarily a business these days, and not just a hobby. I have collector friends who swear they aren’t dealers, but tons of them are “just trying to fund more purchases for my collection.” They are more than happy to ride the wave and make money. Good for them.